wise on my own show? it would be what a villa? >> in italy, this would be common place. stuart: in italy, it would be common -- common place, fascinating stuff from the judge. now here's dagen and connell. connell: mr. varney, you put together quite a panel on photos, only you. thank you very much for that. good morning everybody i'm connell mcshane. dagen: i'm dagen mcdowell. mitt romney, 47%, the economic reality and the political fallout. connell: then chicago teachers meeting today to decide whether or not it is time to go back to work. dagen: and homebuilder confidence at new highs, recent highs, is this market finally ready for a recovery? connell: and central banks across the globe just buying up debt, bob atwater -- bob

auwaerter will be here to talk about that. let's get to nicole at the new york stock exchange. nicole: new all-time high for apple, iphone 5, the preorders have broken all kinds of records all the previous records. this is before it goes on sale on friday the 21st. 699.78, it went for all-time high today of 701.44. then we want to take a look at ford. the ceo alan mulally says he isn't planning to retire any time soon. this is a quote from mr. mulally himself. maybe people were looking into who might be his successor at some point or whether or not he would be doing that. that's not the case. you can see that's down just fractionally right now. back to you. dagen: thank you, nicole. i know it is like a 58% annualized return over ten years

for apple. that's incredible stuff. but our top story today, comments made by g.o.p. presidential nominee mitt romney at a closed-door campaign event causing major controversy for the campaign today. dagen: much to talk about, the economic reality, and the political fall out, first to peter schiff, ceo of europe pacific capital. peter, your take -- euro pacific capital, peter your take? >> you know, they now depend on the welfare state because of the

adverse effects that it's had on the economy and the perverse effects it has on individual incentives, government programs breed dependency. romney is right. he's not going to be able to explain that in a 30 second sound bite. dagen: i have some numbers on that, peter. let's focus on number one the percentage of americans who do not pay any net federal income tax. i'm not going to get into the payroll, state, sales taxes, of that percentage a lot of them don't pay federal income tax because of tax breaks that they get, say, for having children, and in that group, there are bound to be democrats and republicans. it's a legitimate issue to raise that more people need to pay federal income tax to fund just our defense, for example, but it's not going to win you an election when you talk about taking something away from people. >> well, i would say that obama is going to win the lion's share of the vote among people who aren't paying income taxes. after all if your message is lower taxes and you're not

paying any income taxes, what do you care? all you hear about is that's going to reduce my benefits. and most of the people who are not paying income tax because they have children it is because they are relatively poor. if you are upper middle class or middle class your children aren't going to eradicate your tax liability. you have to have a pretty low income before just having children is going to completely eliminate your federal tax liability. but a lot of people are getting checks from the government, whether it's food stamps, whether it's welfare, whether it's social security, whether it's a pension, whether it's a paycheck, and it's difficult to win the votes of these people if you are promising to take those checks away or diminish those checks and you don't have the ability to educate them so they understand they would be better off in an economy that didn't have all those checks coming from the government. so romney is correct. he has to focus on different voters. dagen: the 49% of americans who get some sort of government assistance, federal government assistance, and that does include everybody in a household but also includes people who get social security checks and

medicare checks, and again, to the point, because in many ways paul ryan's -- the nitty-gritty of his plan to try and reduce our spending and cut our debt has been side lined. to that point, you cannot win a presidential election, yes or no, if you're going to target -- >> well -- [speaking over each other] >> that's the problem you have with democracy. it's difficult for romney to explain to the people -- [inaudible]. he needs to tell the free market story which is more nuanced and more complicated than you can get in a 30 second sound bite. but the democrats are going to try to make it out like romney doesn't care about people who are living off the government. he cares about them. he just understands that getting their vote is going to be difficult, and if he wants to be

president, he has to appeal to people who are paying federal income taxes and who are feeling the burden of the big government and are more likely to accept his message of making government smaller. dagen: yes or no, before these problems are fixed, it is going to take a crisis of catastrophic proportions in terms of run away inflation and higher interest rates, yes or no? >> unfortunately we're going to get that catastrophic crisis. the federal reserve has now guaranteed it with its operation screw otherwise known as qe 3. this is coming. we're going to have this crisis and hopefully we do have an opportunity to do the right thing because believe me it's going to be horrific when the bond market collapses the dollar collapses prices go through the roof, nobody wants that money that the federal reserve is printing then we have a real crisis that will make 2008 look like a sunday school picnic. dagen: that was a good yes or no answer, peter. thank you. peter schiff, see you soon. be well. connell: the other big story today is out in chicago where the teachers may be headed back

to work soon, but if they don't, and the strike continues, could have an effect on the monthly jobs reports. dagen: let's go to peter barnes for more on that. peter: hey dagen and connell and all this could happen right in the middle of the election in which jobs are kind of a big issue, i recall. there are 26,000 teachers striking in chicago. under labor department procedures if they are not back to work by the end of their pay period, this friday, department economists will subtract them all from the non-farm payrolls number for september. and with non-farm payrolls averaging about 100,000 jobs a month for the last six months, that could look ugly when the report is released october 5th, a month before election day. but if the teachers are back on the job by october, they would get added back in to the payrolls report for that month, which is released november 2nd, giving the payroll number a little boost, five days before the election. now, we saw this kind of distortion last year with that verizon strike, when 45,000 workers hit the picket lines in

august, that put the initial payroll report for that month at 0. you recall that shocker. now, the following month, job creation rebounded to 100,000 new jobs, when the strike ended. but with with the current pace of job creation, one economist thinks the math of the teachers strike right now may not have a big impact on voters. >> don't think the public is going to be deceived by any bumps up or down over the next couple of months. they know that things are very gradually improving but it is a very sluggish growth rate in this economy right now. peter: nigel thinks at this point to have a big impact on the election the jobs report with the teachers numbers or not would have to be really good or really bad for the next two months. dagen and connell? connell: all right, peter, we have some other headlines to move on to right now. nearly 200 protesters were arrested, the one year anniversary of the occupy wall street movement. there it is in lower manhattan

here in new york yesterday. close to a thousand demonstrators showed up at that event, which is a lower number than last year's demonstrations held in zuccotti park. kohl's hiring nearly 53,000 temporary workers. the stock is down. this is for the holiday season, increased of 10% from last year with jobs in distribution centers, back office, in store customer service and the like. and the debt keeps on piling up. according to data from the u.s. treasury department, since the president has taken office, for every one dollar added to the economy, the united states has added more than 3 dollars in debt. while there's been a 12% increase in economic output, there's been a 50% increase in the national debt. those are the numbers. here's something not to get lost today. one of the biggest names in america business says the economy is getting worse. we're going to have more on why fedex is lowering its outlook. dagen: you wonder why oil is selling off. one of the biggest names in the

bond market, he is here in studio. bob auwaerter coming on. bank of america, merrill lynch just said gold going to end up going to $2400 an ounce. we know how those often work out. look at oil at $96 a barrel. [ horn honks ]

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connell: making a little money with charles payne. dagen: i'm not going to say what i thought, but we do want to know what charles thinks about this pick he has in healthcare. it's a 20 billion dollars company. charles: it is amazing, absolutely amazing company, has this robotic surgical robot called the da vinci and everybody wants it and loves it. i think it costs about half a million bucks. all hospitals love it. they've been beating earnings for a long time. beat the street by 5%. the last couple of days the stock is on fire. i love the way it is acting. even right now only been trading less than two hours traded more

than 50% of its average daily volume. i think this bad boy is on its way back. connell: it is a $500 stock. it's 515.78 as we speak. how do you look -- what's your outlook? is it i'm going to stick in this one for a while or it's a trade -- charles: i think traders can look at 550. i think this is 750, 850 dollar stock. connell: really? charles: absolutely. again, they have no rivals. there are a whole lot of other want-to-be's out there. dagen: healthcare, medical equipment, medical devices are the future of this country. charles: are you kidding me? this is really huge. this stock as you can see, we pulled up a ten year chart, it's been non-stop. a lot of times people say oh man i missed it. connell: nice appearance with imus this morning. charles: it was a lot of fun. dagen: it is good to see you even at that time of the day. thank you charles. charles: thank you. dagen: quarter past the hour, stock us now and every 15 minutes. advanced micro devices, nicole,

what's up? nicole: when you look at advanced micro here, you can see it's been selling off in double digit percentage terms. that's because when you talk about executive changes here. looking at in particular the chief financial officer who right now says he's going to be stepping down. he's going to be pursuing other opportunities. why is this interesting? because he actually filled in the ceo role temporarily and now he says he's leaving as the chief financial officer to find his own permanent ceo position. the thing that the analysts are noting is he actually knows more about the company or been with the company in executive roles longer than some of the current executives and he's well liked. during a tough time for companies that have been cutting their outlooks and analyst downgrades, it is a tough time for him to depart. down 7.2% right now. back to you. dagen: thanks. connell: senior economic advisor to mitt romney coming up next which should be kind of interesting given all the events here over the last couple of

days. how do you get the attention back away from this video and plans on the economy? dagen: new numbers out today on whether it is time to start investing in a home again. hey, if you think inflation is going to take off, we're going to talk to two guests about that, about the wisdom of buying a home. first take a look at how the dollar is holding up against the euro and other currencies today. before copd...

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>> at 20 minutes past the hour i'm juliet huddy with your fox news minute. at least 12 people have died from a bomb attack in kabul afghanistan. a car packed with explosives slammed in slammed into minibus carrying foreign aviation workers on their way to an airport. the striking teachers in chicago meeting this afternoon to vote on whether to approve an agreement to end a walk-out. delayed from sunday in order to allow more time to study the tentative contract. if there's no deal, a judge will hold a hearing tomorrow on the city's request for an injunction ord -- ordering those teachers back to work.

the french court ordered the publisher of a gossip magazine to hand over all of the digital copies of the topless photos of kate middleton. i don't know if you have heard about this. she's the duchess of cambridge and she didn't have a top on when she was sunbathing, but the court also blocked further publication of these images, and those are your headlines, the news ones, on the fox business network. i'm juliet huddy. connell? connell: we have heard of them, thank you. >> thank you. connell: thank you very much. more to come now on this mitt romney video that everybody seems to be talking about. he's defended that comment that 47% of americans, you know, don't pay the income taxes he doesn't necessarily need to

target those people because they are already supporting the president. as we bring in the ceo of cke restaurants, he's a senior economic advisor to the romney campaign. the question becomes and yesterday was supposed to be all about kind of the shift in focus that people were writing about where romney would start talking about himself not just attacking the president especially his economic message, but instead this has gotten a lot of attention. what do you make of it all? >> well, it has gotten a lot of attention, but i think it really does bring us back to governor romney's economic message. i think the governor was just saying look, people who don't pay taxes and there's about 47% who don't and who depend on the government increasingly are reliant on the government for benefits are in all likelihood not going to find the m messagef reducing taxes and shrinking the size of government appealing. and about 47% of the people that probably will find that -- [inaudible]. i think it really did focus back on the economy. really the message here is it's

a free enterprise society message from governor romney versus a government centered government dependent message from president obama. and i think this conversation really focuses in on that. connell: he was just saying -- and some others pointed this out in your view that he was pointing out who the undecided voters are and what this election is really about. one of the interesting points that was brought up this morning, charles payne who was on "imus in the morning," and his point was that all right if you think that, that's fine, but don't give up on those people. he thinks that you should take your economic message and try to convince more of those people in a quote unquote 47% hey my way is the right way, don't just write them off. >> that's what we need to do now. that's the message that the governor will begin -- connell: but it wasn't the message in the video. >> it is not in the message in the video. the message in the video was an attempt to describe to people how the landscape was set up. it doesn't mean that governor romney is giving up on anybody. i mean i know people that are in

that 47% that the last thing in the world they would do would be to vote for president obama. so i don't think anybody is giving up on anybody. it is an economic message. it is the message that made this country. it is why my grand father came here from hungary, he came here for a job, not a government benefit. it is a message that should reach everybody. governor romney will get that out. i think he was just trying to explain kind of the political economic landscape and when you talk 24 hour as day almost which is what these candidates do, you don't always say things exactly the way you'd like to. give him a little bit of a break on that. connell: let me ask you one other question just a little bit slightly off this topic but it is about the economy and the campaign. i think if we weren't talking about this we would be talking a lot about china. the president yesterday talked tough on china. mitt romney throughout very tough on china. both candidates have kind of this hey we're going to be tough on the chinese message. as a business person i know you support romney but as a business person are you at all worried

that this kind of trade war rhetoric that might be harmful to business or no? >> there's always a risk that we will be -- we'll do something to offend china, but look we are china's largest customer, and the last person in the world you want to offend if you are in business is your largest customer. so i think taking a stronger stance with china, if china is manipulating its currency, why wouldn't political candidates want that to stop? if it hurts american manufacturers and it hurts american business and it's hurting american jobs and it's not playing by the rules, it is doing something that people shouldn't do, why wouldn't we take a strong stand to try and get them to stop doing that? but the chinese have historically been friends of the united states going back to the old imperialist colonialist days. we've always had good relationships and since president nixon we have had improving relationships. i don't see the relationship with china disappearing but i do think we need to let them know that we will play the rules and they need to play by the

rules -- that we will play by the rules and they need to play by the rules. connell: thank you, sir. >> thank you. dagen: bob auwaerter is standing by with the latest word on the bond market and where your money should go. connell: apple trading above $700 earlier today. we're going to talk about the future, can this run continue for this stock? but first some of the winners, other winners today on the s&p 500. 4g lte has the fastest speeds.

so let's talk about coverage. based on this chart, who would you choose ? wow. you guys take a minute. zon, hands down. i'm going to show you guys another chart. pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verin. verizon. we're going to go to another chart. it doesn't really matter how you present it. it doesn't matter how you present it. verizon. more 4g lte coverage than all other networks combined.

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connell: market now with fedex the largest shipping company in the world saying the economy is getting worse so it is lowering its outlook. is it time to start throwing some money into housing again? that will be one of the big questions. and then there is apple. what about the future? stay with us for that. nicole is back and stocks now every 15 minutes. first solar is your topic. nicole: when we talk about solar stocks sometimes they have that relationship with oil. as oil gains, sometimes solar stocks become a little more attractive. almost up 1% today. first solar really has taken off

over the past few months. they have changed how they do business. they are building huge new solar farms and link them off to utilities. you see this stock at 23.42 today, it should be noted it is up more than 60%. also wanted to give you a quick look at the most actively traded stock on the floor of the new york stock exchange. bank of america, wells fargo and citigroup. the dow is back in the green. connell: breaking news would be the closing of the european markets. ashley: enthusiasm continues to wane in europe. they lost ground for a second session in a row. "the closing bell," let's take a look. nothing to severe.

the ftse down about two tenths of a percent. the tax and frankfurt also off a half percent. uncertainty builds over spain. talking about spain, the pressure growing on the economy. formally asking for a tale out. the markets in limbo. the ten year bond rise 6%. the latest report shows spanish banks and july were holding $221 billion in risky loans. by the way, italy trying to appease union affairs by saying that he will not be closing car

factories in italy. europe's car sales falling 8.5% in august. ford and gm are already considering factory cuts in the region did we shall see. dagen: thank you, ashley. the federal reserve, of course, pouring even more hooch into that punch bowl. my next guest already sees that inflation. he oversees $700 billion in assets. good to see you, bob. do people talk about the effects of all of this lease money that is pouring out? are you starting to see the impact of that? >> markets seem to be starting to price that in.

they briefly got up to almost 3%. in the last hour or so when i checked back, they were running 2.5%-2.6%. you are not really seeing it in the economy at the moment. dagen: how bad will inflation get lex back do we have any idea how awful it could get >> there is a lot of slack in the economy. the tricky thing will be with the federal reserve. how do they start to pull this money out of the economy when they start to see progress on the labor market. dagen: do you think their present actions will have any impact on the labor market? is the economy bad enough to do

what they did last week? 2015 as on interest rates may go up. >> chairman bernanke is clearly concerned about the labor market.

dagen: which is more dangerous? putting your money into something that is extremely risky? >> treasuries do not have enough yield. that is part of the problem. for example, high yield bond. if you look at the returns they have gotten so far, they are up 11%. credit is up over 5%. that is not anything you see in a "normal market." the whole country has gone looking for yield in all the wrong places. dagen: what are you selling here and what are you buying? >> mortgages have really run with the federal reserve buying

a lot more mortgages. we have some great corporate. like i said, we are not getting off the side one way or another. europe is not done by any stretch of the imagination. the ecb has made some positive steps, but i am very worried about them. dagen: thank you so much for taking the time. i cannot imagine. connell: that is a completely different problem to have. stock alert right now on fedex. we will look at that stock. cutting its outlook for the fiscal year. this is a huge company.

the second biggest packaging company in the u.s. behind ups. not very positive comments at all. 2% drop. $87.36 a share. we did see some positive comments. housing. ed pinto is coming up. we can now call this officially a housing recovery. is it too much to expect more out of apple? can it keep going? we will talk all about that. first, here are your yields. we will be right back on "markets now." ♪

>> i have your fox business brief. national association of homebuilders said it increased. connell will be talking to ed pinto about the data. defending the banks latest round

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>> i think this is another indicator that housing is coming back. it is a slow and delayed recovery, but it is coming back. the home builders number is an indication for that. affordability and house prices are starting to rise in nominal dollars. connell: 40 is nothing to go crazy about. it has to be 50 to the expansion. but it is up. although other sentiment versus new home sales. the new home sales, the yellow line is the homebuilder sentiment. quite a disconnect. new home sales may be putting a bottom in. is that a wallace signed?

>> sentiment is where it has to start. the real reality is we have not had a need for a tremendous amount of new home construction because we have had such an overhang in the market. we did not want to have a huge increase. we would be building homes for people who do not really need production. you need to have fundamentals in place. that leads to the key question which is jobs. we have some part of the recovery that feels like we have not even had a recovery. connell: for all this talk about, yes, it is pretty good, you do not sound that excited about it. >> i am cautious. the jobs number for august were horrible. if that continues at those levels, you cannot have a

housing recovery without jobs. jobs create demand for jobs. we have to focus on the jobs. connell: ed pinto. thank you. >> always a pleasure. connell: on "markets now" they will have jerry howard on. dagen: if you are worried about inflation, borrow money and buy a house. a quarter till the hour, everybody. stocks now. nicole: i am taking a look at some movers. the dow is up about seven points. let's take a look at some names making headlines. apple. a new all-time high again for apple. this is the pre-orders for the new iphone5. it did cross above 701 today.

fedex coming out with their quarterly numbers. fedex is down over 2%. coca-cola the number one performer in the dow jones industrial average. jpmorgan downgraded. jefferies downgraded. this is all about a global economy that is just weaker. united healthcare continues to have an up arrow. kraft out of the dow jones industrial average. don't say we did not tell you. back to you. dagen: thank you. connell: let's get a little bit more on apple. $700 earlier in today's trading. can't it keep going? dagen: sandra smith will answer that question in today's trade. sandra: most analysts right now, if they have not upped their forecast already, they still are. some upgraded their forecast following apple's big

announcement of 2 million iphones on the first day. they are calling for higher prices even at this level. here is the volatility. lots of volatility. lots of ups and downs. slightly higher on the fashion. if i bring up they year to date chart, you will see we are up about 73% for the year. we hit 701.44 on the day. the capital markets have gotten ahead of the ball. they are calling $750 for their price target for 2012. that is somewhat conservative. a forecast of $910 a share for year end. they are still think apple is fairly valued and market cap today $655 million.

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connell: here are some markets now for you. the price of oil dropping down below $96 a barrel. everyone is talking about what is going on here, why such a sudden drop? the fact is we do not know. down to the mid- 90s for the price of crude oil. dagen: unemployment, the rate is at 8.1%. it has been about 8% since february 2009. connell: which edson from d.c. with the story. >> a manufacturer showing

600,000 job openings. they are unfilled because of a shortage of skilled technical workers. ceo of snap on tools says his company is hiring and he says federal government should encourage technical education such as it does for here degrees. >> typically today a technical education and a technical career is viewed as a consolation for a four year degree. actually, i think it should be raised to a national priority so they are not a consolation, but an aspiration. connell: it is pushing skills usa to receive technical degrees. boeing in south carolina partnered with a local community college. decisions on how to spend education dollars become more

difficult. back to you. dagen: thank you so much. here are some great sports headlines. peyton manning in week two of his comeback. three interceptions and just the first quarter. monday night football. manning finished the game with 241 passing yards throwing for only one touchdown. the broncos lost 27-21. an olympic gold medalist shaun white arrested sunday in nashville after allegedly pulling a hotel fire alarm causing the hotel to be evacuated also destroying a hotel phone. white try to flee the scene. an altercation ensued. do we have his mug shot looks back he has a black eye in the mug shot. he has been charged with public intoxication and vandalism.

you are in idiot. shaun white is really ugly. [ talking over each other ] connell: we continue with more on these homebuilder numbers. the highest level for sentiment in six years. dagen: that is all coming up. ♪ ally bank. why they're always there to talk. i love you, james. don't you love me? i'm a robot. i know. i know you're a robot! but there's more in you than just circuits and wires! uhhh. (cries) a machine can't give you what a person can. that's why ally has knowledgeable people there for you, night and day.

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connell: a good housing conversation coming up in the next hour of "markets now. dagen: if you are worried about inflation, you definitely want to borrow some money and buy a house. cheryl: we have jerry howard

coming up. and apple, 701. dennis: i am dennis kneale. cheryl: hello everybody. i am cheryl casone. stocks rallying. we will talk with jerry howard. dennis: romney's 47% comment cost. our investors ready to start making their bets on this election? cheryl: chicago teachers meeting today to decide whether or not it is time to go back to work. dennis: top of the hour. time now for stocks. nicole: use either dow jones industrial average down about two points. the nasdaq composite down and the s&p much of the same. the dow was slightly higher

earlier. we do have that back and forth action. traders are saying that yesterday's pullback, light volume, we are looking for some direction here. on apple, though, clear direction. new all-time high today. went up as far as 701.44. this is because of the iphone5. setting all kinds of records. it is sleeker, faster, has a bigger screen. back to you. cheryl: unbelievable. thank you very much. looking at home builder confidence. it rose in september for the fifth consecutive month. it has been climbing constantly. a rating of 28 and may too today

at 40. jerry howard joins me now for a fox business exclusive interview. will we see that positive reading of 50 before the end of the year? >> i do not know, cheryl. it is going up on a roll right now. one of the sub components of the index is at 50. weekend see it for the building season. cheryl: there are some interesting things going on to regions. you have a 45 and close to 50 there. at least on the sub par basis will we see these numbers pick up in the next month? >> i think we will see the optimism of the builders is really in place. i think it will continue to grow. that is despite, the headwinds

these people are still facing in the marketplace. cheryl: there is no demand for loans from outside. are the builders really going out and trying to get loans to develop these new properties or are they going into cash reserves they have been sitting on for the last four years or so? >> some of the bigger builders have cash reserves. some of the smaller and medium sized builders, particularly those in our improving markets, those guys are going to banks trying to get loans and are still facing incredible difficulty. cheryl: all of your members 80% of housing in this country. i am curious, i know that you talk to them all the time, if the pressure is on four these names? we are seeing huge stock jumps.

jerry, do you think they are a little nervous about the fact that the street is betting on them now? >> i cannot comment on the individual companies. the industry as a whole is very optimistic about the future. virtually, in most every market, we are reaching the bottom and ready to start coming out. you can chop like that to whatever the individual companies are thinking. cheryl: the traders are looking at that. i want to talk to you about traffic. we spoke about traffic increasing, that's what traffic. we are still seeing a positive number. we are not seeing it translate truly.

>> the buyers have been cautious for so long. just hitting them to look at new houses is a step in the right direction. they feel for the next six months, already up to 50. cheryl: what about commodity costs? >> that is a problem i would like to have. commodity costs, labor costs, all of those are issues that show we are back in business and starting to buy things again, starting to contribute to the economy. i would like president obama and governor romney to recognize that. cheryl: jerry howard. thank you. connell: dennis: breaking news. microsoft announcing an agreement with research and motion. one thing to watch here is some people wonder whether microsoft

ought to get rid of no ps as an ally and merge with blackberry. cheryl: many companies still defend on them. he likes the mobile apps. dennis: good reviews. cheryl: we will take a break. when we come back we will have more on the mitt romney controversy and who pays taxes in this country. elizabeth macdonald breaks down the numbers for us. dennis: and the governor of california health education and the economy. cheryl: chicago teachers decide today whether or not they go back to work. first, as we do every day at this time, take a look at metal. ♪ [ engine revving ]

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tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 deposit. tdd#: 1-800-345-2550 call 1-866-751-3261. cheryl: we saw a sharp and unexplained selloff in oil yesterday. phil flynn of price futures group and fox contributor watching it all from the cme. >> we warned you yesterday. especially when you combine it

with a jewish holiday. you have the light volume. i expected volatility and boy did we get it. based on the market action today, we are down again today. there may have been more to it. there are a lot of concerns about europe, the slowdown in europe, the spanish bailout. that today is weighing on oil. yesterday it may have been about light volume, today it is about europe. dennis: it is time to make money with charles payne. he has an energy place for your per folio. charles: by 2040 -- they will o to all kinds of alternatives. they make the vessels. they make the ships.

this stock will trade probably twice the average daily volume. it will go near an all-time high very soon. by the way, germany actually said because of the situation, they will get out by 2020. liquid natural gas, they will be able to facilitate that and i hope america takes advantage of it as well because canada will. cheryl: thank you. dennis: romney under fire for putting his foot in his mouth again. >> 47% of the people. 47% who depend on them. they believe they are victims. they believe the government has responsibility to pay for them. who believe they are entitled to healthcare, food, housing, you

name it. they will vote for this president no matter what. dennis: someone may have actually taped me? we have the ceo of planned financial services joining us now. does this gap change your outlook at all on the market and the economy? >> we feel that the economy will still be slightly volatile going to the election. the market sees that the democrat and republican is a neck and neck race right now. dennis: do you see any chance there will be in the ground support that will come out and say it is bad when 47% of the country pays no taxes or will we just hang them out to die because he is an evil rich man? >> i think really people will focus in on unemployment has a bigger issue. it makes a statement for the

economy where 8% of the people unemployed over 3.5 hears. dennis: who do you think will win this election? >> well, i think it is to close right now. our focus is really on the senate. you have 33 seats available, 22 which are democratic. two are independent. i think that will create some meaningful change. we are paying much more attention to the senate races right now. dennis: if republicans control both houses, you do not care if romney with his tax cuts do not went? >> i think it will have less impact on who the president is if you have a united congress. that is where all of your initiatives come from. if obama or romney when -- dennis: let's go over to some financial stuff.

do you think they will disappoint as a lot of people out there believe? >> i think earnings will be underwhelming overall to the consumer. i think as an investor, you will look at this and say, you know, will we really slow down to a stall? i think we will move forward in 2013. i think what is holding back in companies is the gridlock in washington. you have a moving target with taxes, monetary policy and things like that. dennis: it should clear up soon. thank you very much for being with us, frank. >> thank you for having me. cheryl: it is 15 minutes past the hour. stocks now as we do every 15 minutes. nicole: we see the financials coming under pressure.

this is about smith go money. morgan stanley they have made their purchase from city. it is expected at the end of the month. they are raising stake in this. it was $1.9 billion. that is coming from the "wall street journal." then we take a look at f5 networks. they are competitive with cisco systems. cisco systems makes a product by distributing data in a more intelligent manner. cisco systems they stop making that product. if that is true, f5 would be the beneficiary. that is why you are seeing a game on f5 networks. dennis: thank you very much,

nicole. let's call it that romney unplugged. the contender rocks the contender. romney is now under fire. what do the facts show is back elizabeth macdonald is here. >> romney is calling the 47% of taxpayers who don't pay federal income taxes depended. let's take a closer look. let's take a closer listen to what he said. here he is. >> 47% of the people who would vote for this president no matter what. 37% who are with him. who believe government has a responsibility to pay for them. who believe they are entitled to healthcare, food, housing, you name it. >> we have essentially 49% of government households getting some kind of support.

you can blame it on the recession. we also have a very progressive tax system. that is separate from medicare and medicaid. let's take a look at who actually pays taxes in this country. you will see 2.3% of the bottom half, that is what they paid, that is their burden. dennis: you will see 1% -- >> the top 10% showed that 71% of all income taxes. tax cuts for the rich are for the people who pay the income taxes in this country. that is the bottom line. dennis: sounds like he said a smart thing, but he was dumb to

say it, i guess. thank you very much, elizabeth macdonald. cheryl: a company announcing another executive change. we will have that coming up. dennis: a question of when not if, spain will seek a bailout. we will be right back. ♪ [ male announcer ] this is the age of knowing what you're made of.

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if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. so let's talk about coverage. based on this chart, who would you choose ? wow. you guys take a minute. zon, hands down. i'm going to show you guys another chart. pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verin. verizon. we're going to go to another chart.

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woman: it's a fantastic opportunity to be working together with a common goal of curing ms, and sharing is the key. >> at 22 minutes past the hour i have your fox news minute. the teachers in chicago will be meeting today to decide if the strike is over. british lawmakers warning that made us deficient to sail back operations runs the risk of undermining the mission in the country. troops will temporarily stop. more than 52 having killed this year by people they have trained wearing soldier or police uniforms. the most expensive piece of art

ever sold. it will be on display in new york starting next month. it was bought by a private collector for nearly $120 million. cheryl is so excited about this. dennis is as well. that is your fox news minute. dennis: thank you. >> dennis, my pleasure. dennis: ashley webster joins us now with more. ashley: a very frustrating scenario right now. we are really in political limbo right now in europe. you know, the german court said yes we back the bailout fund. now you can hear crickets out there. will spain the next in line to ask for a bailout? everyone says yes, but they are dragging their feet. dennis: i thought what took

european stocks down today is spain is bulking saying they do not need a bailout. ashley: they said the same things about their banks and then turned around and said, yes, we do. you are getting conflicting messages. you have the prime minister saying we need to make sure we really look at where we are at before we pull the trigger. if they go to the ecb for this unlimited bond buying there are a lot of conditions attached to it. politically, not a good move for him. he has been in charge. he has been in a very difficult situation. by asking for a bailout, it makes his situation weaker. dennis: thank you very much, ashley. cheryl: it is time for your west coast minute. former california governor arnold schwarzenegger about to take on higher education.

it will offer bipartisan studies on the environment, economy and political form. it kicks off september 24. san francisco-based -- is getting a new design shape. it will manage design and 42 countries. turning around again after struggling for years. they will oversee men's and women's accessories. two and a half men star sustained heavy injuries at sunday's not a cop triathlon on sunday. he was not able to complete the race. he spent his time in the medical tent. dennis: ouch. he is a nice guy. amc heading to court.

we will look at what is at stake. what does a harvard education really mean for you? first, a look at some of today's s&p winners and losers. ♪ [ female announcer ] they can be enlightening. hey, bro. or engaging. conversations help us learn and grow. at wells fargo, we believe you can never underestimate the power of a conversation. it's this exchange of ideas that helps you move ahead with confidence. so when the conversation turns to your financial goals... turn to us. if you need anything else, let me know.

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between content providers and distributors. addition network taking center stage in a battle with amc. chicago teachers debate and time to end their strike and get back to work. apple trading around $700 a

share mark, all-time high by, sell or hold. cheryl: stocks every 15 minutes. moving the big time on microsoft news. nicole: patent licensing agreement between research in motion the blackberrymaker and microsoft which is down a little bit and research in motion has been moving higher and now you see it falling back too. 1.5%. this is a licensing agreement that sends file allegation cables for certain blackberry devices. you can see both stocks to the downside. take a look at health care. the c e l -- g financial officer will be succeeding trevor fetter. trevor health care is up 3% and hit a 52 week high. previously the company controller and principal financial officer now getting

the chief financial officer roll. cheryl: good to see all that news today. here is something to consider. when thinking about college harvard university graduates are earning less than those in technology. you heard me right. demand for skilled workers and commodities has graduates landing average salaries of $56,700 a year. that is just out of college. $2,600 more than harvard grads are making when one in 10 college graduates is out of work and harvard tuition four times costs if you want to go to technology for school. can you believe that? what a change. >> money doesn't make us happy. cheryl: money makes me super happy. dennis: battle between distributors continues with a emcee and its network. trial is set to start this

weekend our next guest says longer it drags on the more at risk amc stock is. isn't the capital joins us now. let me ask about this dish network. they are so difficult they fight all the time with providers and a front-page story says the most difficult companies in the world. >> you are absolutely right. charlie has his reputation in the industry. this is really emblematic of a lot of battles going on, and an unrelated issue of the migration of audiences and fragmentation which platforms like netflix or whatever there are a lot of issues escalating these battles. dennis: complaining when they

have viacom and nickelodeon running too much of line. and amc doesn't have enough viewers never mind two of the hottest shows. hazmat men and walking dead. >> one of the main reasons we think it is unique. there's a disconnect between what ratings are saying on one side for nielsen and a emcee shows as you alluded to and desktop data which manages viewership for showing the opposite trend and that is where we are -- they have been generating solid ratings but really this is going to evolve into the pain along her this goes on and we think it is more vulnerable. dennis: we have always thought

the content from swiss tradition and i have been arguing the distribution guys have real power. dish is 20% of amc circulation. maybe the balance of power is shifting. >> under normal circumstances contents does trump distribution but dealing with distributors out there, comcast, time warner cable, direct tv or dish you have to be careful because these guys have a lot of clout that could hurt you over the long term. dennis: amc is around $40 and as low as 30 or as high as 46. you like that but you don't like it as much. you think amc gets hurt. >> we have a buy recommendation in both regions and amc because of its very strong regional land acquired [talking over each other] dennis: dish? >> 35. dish is a spectrum player right

now. >> as high as 25 and 45. >> it ran up quite a bit and a little more room to run. [talking over each other] >> which city regained the top spot as the dirtiest city? we will tell you. dennis: global luxury hotel chain going to win against the likes of marriott and starlet to ask the chief of peninsula hotels but look at ten year treasury and bob atwater about what it is doing right now. >> ultimately there is going to be a cap on it. based on the economy i don't see that going away soon. the tricky thing is with the federal reserve, and the economy, when they begin to see

progress on the labour market and that will be a tricky thing whether it is burning the and the successor.

tracy: tracy byrnes with your fox business brief. price of gold set to take off according to merrill lynch.

they said the precious metal will climb to $2,400 an ounce by 2014. this is due to the aggressive paulus the easing by the fed and the ecb. alan mulally says he is not planning to require any time soon. he made the statement as he went to the fusion sedan. ford's board of directors plans to announce this will follow alan mulally when he does retire. shares of events micro devices getting hit hard following the resignation of chief financial officer thomas c. burke. he will preserve other opportunities. the resignation is the latest departure by an executive since the new chief executive joined last year. the latest from the fox business network giving you the power to prosper. [ male announcer ] at scottrade,

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don't mean the fun kind. we're talking trash. no. 5 westmont travel and leisure's list of 30 cities the big apple has regained the top spot for filth. it is also ranked as the loudest and rudest rounding out the top five dirty cities new orleans, baltimore, l.a. and hot land. cheryl: mayor bloomberg must be so proud. really exciting. good job. in new study by hotelscombined.com find the average hotel rate you went up 70% since last year in the summer months of june, july and august. the city of anaheim recording the highest price increase with a jump of 40% from average daily rate of $109 in 2011 to $155 in 2012. starwood hotels bigger and marriott international, held worldwide making major inroads

in china. u.s. and european hotel giant finding their brand among the top ten most searched hotels in china, the oldest hotel company, joins me now. your company, you also made that list as well. something interesting about that data is it seems the sheridan is the first american company to get into china and still winning. what is different about the culture? >> china is a developing country and we are seeing many more chinese travel all over the world land different market segments. the chinese would go for very high and luxury accommodation. some may be more business hotel than mid market so the chinese are learning different brands and what they represent in terms of custom experience they expect to find. cheryl: shanghai is beijing and this is your hometown. you have seen huge revenue growth in tokyo so of the asian

travelers, the asian market. corporate customers and international business boosting hotels. >> it is both. high end corporate customers are important to west but also measured customers. andy and manage traveler and this is the traveler who is not really part of a corporate group deal about making their an individuals for his house to stay so fabulous hotels in hong kong and tokyo and shanghai and bangkok and asia and free hotel in the u.s.. cheryl: beverly hills and new york and chicago. beverly hills revenue up 22% in the first half of this year. are we seeing a united states rebound in the luxury market? >> we have seen some rebound since the global financial crisis. more international customers coming from china as well and we

are long-term holders of hotel assets. if we invest in the long term and we see the business coming back. cheryl: you said many brands -- many other brands are shortsighted. our culture, we think long-term. we think 20 years, 25 years. don't sweat the small up cycle or downcycle. >> one thing that fewer companies are doing in a hotel space is being an owner and operator of hotel assets and in many cases the owner is different from the hotel management operator. as the owner what we do is invest for the long term so flagship property, we have just put a substantial investment to further upgrade the rooms and create what we believe to be a new generation of hotel rooms with very good technology, great design and continue to invest like that to keep the quality of

our assets of. cheryl: use a lot of money in the economic downturn especially that particular property and even so basically tablets for every room. a hotel room with my tablet and that controls the entire room. it controls room service and rolls royce. you put a lot of capital into that. >> we are unusual in that we have in-house research and development facility to develop technology for hotel rooms. the new technology we have, touchscreens and a tablet you can take from the room and all the panels on the rumor touchscreen. press one button and you can change the language on all the touchscreens to chinese or japanese to suit the guests's need. tablet controls everything from lights to the entertainment system. cheryl: interesting you spend so much money. thank you very much.

appreciate it. dennis: my kingdom for an old-fashioned light switch. stock >> caller: minutes. bad, back and beyond taking a bath. nicole: maybe i could turn it to greek. that is a language i understand. it is coming under pressure today. the retail index is to the downside and bed bath and beyond is no difference. 2% today and analysts coming out with comments. oppenheimer also the one grabbing the attention here. talking about bed bath and beyond and the potential is consistent and meaningful sales and growth of their seeing with earnings upside potential really beginning to wane and also bed bath and beyond will be more dependent on coupons and those that begin to the emerge once again as a significant driver for traffic. they did -- check them today to two downgrading them to a performance from out

performance. ubs up their price target to $72.60 the have and neutral rating. back to you. cheryl: thank you very much. a vote on a deal to end the teacher strike in america. a large school districts may happen this afternoon. we have details from chicago. >> going to an all-time high. why investors might want to be wary. take a look at the winners on the nasdaq. ♪ forz(power!) andiamo! andiamo! (let's go! let's go!) avanti! avanti! (keep going! keep going!) hahaha...hahahaha! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? happier than christopher columbus with speedboats.

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cheryl: chicago teachers could be heading back to the classroom. steve brown standing by with only this development on a strike. >> we were expecting a vote by the teacher's congress if you will, house of delegates sunday. they need a couple days. it is a couple days later and we have a meeting of the house of delegates for the chicago teachers union who will get together to discuss the proposal on the table hashed out by a vote, union and school recommend and -- we believe they will have a vote whether or not to continue or discontinue this strike but the longer this goes on there are signs there are parents and others who would like to see kids back in school. >> i agree that teachers probably want to level the playing field but honestly i can't agree that if the kid the going to be out of school that

that is leveling it because that is taking away -- >> we do not one mayor rahm emanuel to sue the teachers' union. we do not want the teachers' union to have any more mass marches. we want all sides to put their energy towards getting our children back in school. >> teachers' union demonstration yesterday are less well attended than they usually are and there is a good reason. there were a lot of meetings between members of the house of delegates and their constituents and fellow teachers at the local school so there was a lot of discussion about the deal on the table in anticipation of today's event that there is a difference of opinion among some folks and they go into two house is. folks that think this is the best deal and they should take it and another group thinking this is not even close to the best deal and they should

continue to strike and negotiate at the table. cheryl: thank you very much from the fox news channel. appreciate it. cheryl: dennis: hollywood may be ready for a new kind of incredible hulk. multibillion-dollar government program that will affect millions, save lives and create a better world. it is obamacare. new york times reporting that california's new obamacare initiatives and a million dollars, worldwide to promote the program. and persuading hollywood to obamacare of lining gray's anatomy, and they should react to the government telling her she has to get insurance or pay a fine. cheryl: she is one good looking lady. millionaires around the world, the number of billionaires'

increased according to the world's wealth report. the number of people with $200 million fell almost 10% with total wealth shrinking every 11%. there were 9% more billionaire of last year. 12,060 people now hold $6.2 trillion. then there is this. programming note. liz claman talks to the winkle lost when this and all the facebook fans investing in companies, talk with them about it today at 3:00 eastern on countdown to the closing bell. dennis: apple touching a new all-time high after selling two million free orders. the i phone 5 in 24 hours. some experts say mao -- now is not the time to own and apple. sandra smith joins us with the latest. sandra: a couple stocks have entered the 700 club when it comes to technology stocks. google is one of them.

this five year chart tells us what happened when they entered that club in 2007. who will reach the 700 mark but a year later dropped to $262 a share but to be sure that was at the peak of the financial crisis and rallied back but took several years before recently it went back to the 700 club just several days ago if not $716 a share. that being said priceline.com look at this for example, rose above the 700 level just in may, $7.16 a share looking at priceline. it is back below their. here you see this peak in may. it dropped to 642 and has not gone above 700. here is apple. the chart looks similar. we are sitting at $699 a share. bank of america and merrill lynch among many others not only

say it will maintain that level but bill $150 on that. they call $850 a share. it is all about the iphone sales. two thirds of profits over two million in twenty-four hours. banking on continued gains. cheryl: coming up next fedex sour on the economy and lowering guidance to hold on to the stocks. dennis: melissa frances and lori rothman have that story as markets now continues. when i found out my irregular heartbeat

put me at 5 timesgreater risk o, my first thoughts were about my wife, and my family. i have the most commonype of atrial fibrillation, or afib. it's not caused by a heart valve problem. i was taking warfarin, but my doctor put me on pradaxa instead to reduce my risk of stroke. in a clinical trial, praxa® (dabigatran etexilate mesylate) reduced stroke risk 35% better than warfarin. and unlike warfarin, with pradaxa, there's no need for regular blood tests. that's really important to me.

pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding and seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition like stomach ulcers, or take aspirin, nsaids, or blood thinners, or if you have kidney problems, especially if you take certain medicines. tell your doctor about all medicines you take, any planned medical or dental procedures, and don't stop taking pradaxa without your doctor's approval, as stopping may increase your stroke risk. other side effects inclu indigestion, stomach pain, upset, or burning. pradaxa is progress. having afib not caused by a heart valve problem increases yourrisk of stroke. ask your doctor if you can reduce your risk with pradaxa.

dennis: the dow clinging to the green and holding five year highs and apple part of the 30 stock our. cheryl: a crazy morning so far at 1:00 eastern time. a lot more coming up throughout the afternoon with lori rothman and melissa frances. lori: crazy is what